_[Historian] (Part 1 of 3)
This is further to my comments in forum, chat and cc this week on new empires rising to overtake old empires. London and New York were the top global financial centres for years.
That lead has eroded steadily in recent years, and on Tuesday the World Economic Forum stated that Hong Kong has moved into first place. ::::::
ALJAZEERA | 14 Dec 2011 | Hong Kong named world’s top financial hub http://www.aljazeera.com ··· 525.html Hong Kong has become the first Asian city to top an annual survey of global financial development, overtaking the world's traditionally dominant financial industry hubs in New York and London.
The World Economic Forum on Tuesday said that Hong Kong, a semi-autonomous Chinese territory, had jumped from fourth to first due to its strong scores on non-banking financial services such as initial public offerings and insurance.
Read More Link on Right
_New York's Wall Street and the City of London … slipped on lower scores for financial stability…. Among the top 20, Japan moved up to eighth place while Malaysia climbed one spot to 16th. South Korea jumped six spots to 18th place while China, treated as a separate entity to Hong Kong, rose three places to 19th…
[Historian] (Part 2 of 3)
Excerpts from article showing Hong Kong’s rise from 3 months ago. ::::: HITC | 3 months ago |
And the Top Ten Global Financial Centres Are… http://hereisthecity.com ··· st-chan/ …. Eurozone - capital cities of the weaker Euro economies are clearly suffering - examples include - Madrid… Dublin… Milan down; Asia - the strongest centres are strengthening and consolidating their positions - Hong Kong up 11 points, Singapore up 13, Shanghai up 30 and Seoul up 28…
The three top centres [London, NY, HK, Singapore] are now only four points apart (there was a gap of 16 points between first and third 6 months ago).
[Historian] (Part 3 of 3)
Excerpts from January 2010 article predicting the changes. ::::: BUSINESS INSIDER | Jan 7, 2010 | 10
Emerging Financial Centers That Will Blindside New York and London http://www.businessinsid ··· gfiVkLBS …
The financial crisis slammed global banking hubs around the world. Were it not for government bailouts, Wall Street, The City and other banking hubs may never have recovered.
The traditional financial powerhouses stand weakened, and others, long hungry to steal their business, are taking advantage. Around the world, regional banking centers like Toronto, Shanghai, Singapore and Zurich are poised for explosive growth and to become the new world financial leaders…. as Western power declines, banks could increasingly favor Hong Kong and Sao Paulo….